Deregulation. Infinite growth. Self-correcting markets. All are hallmarks of neoliberal thinking. But they're more than just assumptions about the economy. They undergird much of the most influential thinking about governance right now, and dominate political and economic thinking everywhere. The results, according to some, have been disastrous.
Investigative journalist Bruce Livesey asks four experts about the rise and rule of neoliberal thought, and what it may mean for societies around the world.
The Trump administration is largely populated by people from the neoliberal thought collective and they are busily carrying out things that they wanted to do for years.- Philip Mirowski
The term "neoliberalism" is likely more used than understood. But if at its heart it's the ideology that markets know better than humans, then its ascension into virtually every sector of society is nearly complete. At least that's the view of economic historian, Philip Mirowski at the University of Notre Dame. For him, the presidency of Donald Trump represents textbook neoliberalism: privatizing education and health care, gutting the Environmental Protection Agency (EPA) as well as health and safety, and food safety laws.
"People don't pay any attention to this because they're so fascinated by the buffoonery of Trump himself," Mirowsky says.
"The Trump administration is largely populated by people from the neoliberal thought collective and they are busily carrying out things that they wanted to do for years."
Trump's government is simply the visible part of the ideological iceberg that is neoliberalism. Brexit, the rise of extreme right-wing nationalism and anti-globalization, the Euro crisis, austerity, consumer debt and economic anxiety — these are all arguably byproducts of neoliberalism's ideology.
Trump's government is simply the visible part of the ideological iceberg that is neoliberalism. Brexit, the rise of extreme right-wing nationalism and anti-globalization, the Euro crisis, austerity, consumer debt and economic anxiety — these are all arguably byproducts of neoliberalism's ideology.
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